Furthermore, innovation itself relies heavily on basic research in biology and chemistry, for which there is no equal benefit incentive. Pfizer’s vaccine has long been based on insights into chemistry and molecular biology developed in government and university laboratories worldwide.
Harvard health economist Amitabh Chandra said, “No pharmaceutical company will be encouraged to make a basic scientific discovery because it is not patentable.” “Many basic sciences are not profitable. This is just knowledge. At some point basic science becomes useful, and may then come into the private sector. But who’s going to unlock the fact that the cell has a 3-D printer called the ribosome, or a naturally occurring messenger RNA that reads the ribosome to produce another protein The “He said, describing the mechanism by which the Pfizer vaccine works.
He estimates that the coronovirus crisis cost the United States at least $ 16 trillion in terms of lost lives, quality of life, and lost economic activity. If an epidemic occurs once in a century, it may be worth spending something like $ 160 billion a year in basic research to prevent it. The National Institute of Health budget, dedicated to all types of medical research, is about a quarter.
The private sector’s ability to develop innovative drugs is not necessarily something that happens because bold business executives manage their companies better than the less commercially minded public sector.
Rather, in the United States and Europe, an interlocking set of institutions towards virus treatment and prevention reflects: funding from the state, to basic research, patent enforcement, and security regulation; And the ability to convert raw ideas from industry into a marketing product.
To get safe and effective medicines, it takes both.
Thanks to government intervention
Supply chain managers in the auto industry take their responsibilities seriously. The inability of a supplier to deliver a significant part can stall an entire assembly line and cause millions of dollars of damage to “original equipment” manufacturers, as industry insiders say carmakers.
“Closing an OE is a mortal sin, and the supply base has been tightened,” said Jeoff Burris, an auto industry supply chain consultant based in Piffmouth, Mich. “No expense is incurred to keep this from happening is.” “